One of the biggest mistakes business and farm owners make is mixing business cash with personal cash. This is a NO NO!
You own a business and you have free access to the business funds, but those funds are not for your personal use. The business earned the revenue and paid the expenses the remaining profits are the businesses. As an employee of the business your are paid a wage for your work and should be compensated. The other money should remain in the business.
Keep two separate checking accounts. One for the company and another for your personal use. Do not mix the funds. Pay your personal expenses out of your personal account and the business expenses out of the business account.
This is the first step in getting a handle on your finances.
You own a business and you have free access to the business funds, but those funds are not for your personal use. The business earned the revenue and paid the expenses the remaining profits are the businesses. As an employee of the business your are paid a wage for your work and should be compensated. The other money should remain in the business.
Keep two separate checking accounts. One for the company and another for your personal use. Do not mix the funds. Pay your personal expenses out of your personal account and the business expenses out of the business account.
This is the first step in getting a handle on your finances.
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